PB Fintech slides after block deals
May 26, 2023 01:10 PM | Source: capitalmarket.com
PB Fintech fell 1.96% to Rs 610.20 after the counter witnessed large block deals in morning trade today, 26 May 2023.
The stock tumbled as much as 4.19% in morning trade today to hit the day's low of Rs 596.30.
On the BSE, 1.02 crore shares of the company were traded in the counter so far as against an average trading volume of 88,675 shares in the past three months.
On the NSE, 34.05 lakh shares changed hand in the counter so far compared with an average trading volume of 18.94 lakh shares traded in the past three months.
PB Fintech, the owner of Policybazaar and Paisabazaar platforms, is India's largest online platform for insurance and lending products.
The company reported a net loss of Rs 9 crore in Q4 FY23, which is significantly lower as compared with a net loss of Rs 220 crore recorded in Q4 FY22. Revenue during the quarter increased by 61% YoY to Rs 869 crore. EBITDA loss in the fourth quarter was Rs 68 crore as against 255 crore in the same period last year.
The PB Fintech scrip was listed on 15 November 2021 at Rs 1150, a premium of 17.35% to the issue price of Rs 980. It hit a record low of Rs 356.20 on 17 November 2022.
The initial public offer (IPO) of PB Fintech received was subscribed 16.58 times. The issue opened for bidding on 1 November 2021 and it closed on 3 November 2021. The price band of the IPO was fixed at Rs 940-980 per share.